Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of American Tower Corp (NYSE:AMT) by 9.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,175 shares of the real estate investment trust’s stock after buying an additional 182 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in American Tower were worth $562,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wesbanco Bank Inc. grew its holdings in shares of American Tower by 1.0% during the fourth quarter. Wesbanco Bank Inc. now owns 4,145 shares of the real estate investment trust’s stock worth $952,000 after purchasing an additional 40 shares in the last quarter. Goelzer Investment Management Inc. lifted its position in American Tower by 0.3% in the 1st quarter. Goelzer Investment Management Inc. now owns 14,873 shares of the real estate investment trust’s stock worth $3,239,000 after buying an additional 43 shares during the last quarter. Institute for Wealth Management LLC. lifted its position in American Tower by 2.3% in the first quarter. Institute for Wealth Management LLC. now owns 2,046 shares of the real estate investment trust’s stock valued at $446,000 after purchasing an additional 46 shares during the last quarter. Brinker Capital Inc. lifted its position in American Tower by 0.6% in the first quarter. Brinker Capital Inc. now owns 7,669 shares of the real estate investment trust’s stock valued at $1,670,000 after purchasing an additional 46 shares during the last quarter. Finally, Old North State Trust LLC lifted its position in American Tower by 4.4% in the second quarter. Old North State Trust LLC now owns 1,120 shares of the real estate investment trust’s stock valued at $290,000 after purchasing an additional 47 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently commented on AMT shares. Raymond James upgraded American Tower from a “market perform” rating to an “outperform” rating and set a $211.00 target price for the company in a report on Thursday, March 26th. Deutsche Bank assumed coverage on American Tower in a report on Friday, June 5th. They set a “buy” rating and a $287.00 target price for the company. Credit Suisse Group reaffirmed a “buy” rating and issued a $300.00 price target on shares of American Tower in a research note on Monday, June 15th. UBS Group raised American Tower from a “neutral” rating to a “buy” rating and set a $270.00 price objective on the stock in a research report on Thursday, April 2nd. Finally, Edward Jones raised American Tower from a “hold” rating to a “buy” rating in a research report on Tuesday, March 24th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $263.14.

NYSE:AMT opened at $258.94 on Wednesday. The company has a debt-to-equity ratio of 5.40, a current ratio of 0.64 and a quick ratio of 0.64. American Tower Corp has a 1 year low of $174.32 and a 1 year high of $269.73. The stock’s 50 day simple moving average is $260.15 and its two-hundred day simple moving average is $241.52. The company has a market cap of $117.19 billion, a price-to-earnings ratio of 60.64, a PEG ratio of 2.27 and a beta of 0.45.

American Tower (NYSE:AMT) last released its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.93 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.05 by ($0.12). American Tower had a return on equity of 35.63% and a net margin of 24.55%. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the previous year, the firm earned $1.84 EPS. The business’s revenue was up 9.9% compared to the same quarter last year. As a group, analysts anticipate that American Tower Corp will post 8 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 19th were paid a $1.10 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.08. The ex-dividend date was Thursday, June 18th. This represents a $4.40 dividend on an annualized basis and a yield of 1.70%. American Tower’s payout ratio is presently 56.92%.

In other news, EVP Olivier Puech sold 415 shares of American Tower stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $266.70, for a total value of $110,680.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Robert Joseph Meyer, Jr. sold 6,439 shares of American Tower stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $238.11, for a total value of $1,533,190.29. Following the completion of the transaction, the chief accounting officer now owns 37,120 shares of the company’s stock, valued at approximately $8,838,643.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,296 shares of company stock worth $2,506,244. Corporate insiders own 0.65% of the company’s stock.

American Tower Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 171,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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